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2003-10-2 09:31:00 a.m. HKT, XFNA
HK's Tian Teck and unit plan hotel, retail assets sale
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HONG KONG (AFX-ASIA) - Tian Teck Land Ltd (266.HK) and 50.01 pct owned
unit Associated International Hotels Ltd (105.HK) said they plan to put their
hotel and retail assets on the market.
They plan to sell Hyatt Regency Hong Kong in Tsim Sha Tsui, Kowloon and
the retail premises owned by Associated International in the shopping arcade
where Hyatt stands.
""In view of anticipated shortage of hotel rooms and resurgence of tourism
in Hong Kong, the directors of Associated International and Tian Teck have
decided to explore market opportunities for the possible sale of the hotel
and part of the shopping arcade,"" the companies said in a joint statement.
leonora.walet@afxasia.com
lw/mh
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